Obama oversees crushing unemployment – no end in sight

The unemployment level has been above 8% for 41 consecutive months. In the previous 60 years, the unemployment rate topped 8% a total of only 39 months

According to Labor Department’s just released statistics, the U.S. unemployment rate has remained unchanged at an unacceptable 8.2 percent.

Stocks tumbled to critical lows with Dow Jones drastically tumbling (real time data updated) after today’s dismal jobs report. Dow Jones industrial average futures were down 24 points in anticipation of the report and were down 60 additional points within minutes, continuing to fall. As this is being written, the average has dropped nearly180 points.

The ‘promise Hope and Change’ continues to be empty for many when only 75,000 jobs were added in the April/June quarter. About one-third of those jobs were in temporary or part time services. On the heels of the unsustainable ObamaCare, employment in health care related industries added 13,000 jobs, while retailers, transportation firms and government cut jobs.

As the economy continues to struggle, Barack Obama has added new taxes and crushing regulations, disincentivizing already jittery employers who are threatened with new costs. Even spending for the July 4 holiday dropped 12 percent from 2011, according to a Visa poll, reflecting a lack of consumer confidence.

But the strangest fact is that more workers joined the federal government’s disability program in June than got new jobs, according to two new government reports — a clear indicator of how bleak the nation’s jobs picture actually is. 85,000 workers left the workforce entirely to enroll in the Social Security Disability Insurance program, according to the Social Security Administration. The surge in disability ranks outpaced job growth throughout Obama’s so-called economic recovery. While the economy has created 2.6 million jobs since June 2009, 3.1 million workers signed up for disability benefits.

ABC’s Mary Bruce details what she rightly refers to as Obama’s “monotonous response” to this continued economic sagging as he incessantly declares it was “more than a decade in the making,“ continuing to blame George W. Bush although the disconnected Obama has been in office for three and a half years.

And here in Arizona we hold the distinction of having Yuma top the national list with a stunning 28.9 percent unemployment.

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7 Responses to Obama oversees crushing unemployment – no end in sight

Obama is unparalleled when it comes to the Blame Game. The fact that he spends like a madman and throws good money after bad with massive bailouts and underwriting failed green business ventures such as Solyndra, and then continues to blame George W. Bush for his failings tells who and what he is. This massive federal incursion into our personal health care will the final nail in our coffin. Other nations who have socialized their medical delivery systems now want out of the unsustainable schemes, but he wants IN!!

Just wait until the folks who think this is ideal realize there will indeed be panels who decide who is worthy of care and who isn’t. It will be bad enough when it’s your parents. Wait until it’s YOU who will be denied medical treatment.

Why aren’t there tighter controls on who qualifies for taxpayer funded disability payouts? When more people are receiving disability $$ than new job paychecks, we’re in a world of hurt. Who will be there to keep this gravy train rolling?

This sky-high unemployment will decisively shift the momentum to Mitt Romney. Romney has a lifetime of experience as a successful businessman. Obama is a spending machine who has never created a real private sector job in his life. Associated Press, hardly a bastion of conservative thought, ran a poll late last month which found that more than half of those surveyed disapproved of Barack Obama’s handling of the economy.http://ap-gfkpoll.com/uncategorized/our-latest-poll-findings-3

It is simple math. When a person applies for a monthly check from the government, they will most likely feel indebted to the Great Black Father. When a person is employed in private industry, they will most likely feel indebted to the capitalist, free enterprise system and feel negligibly indebted to the Great Black Father.

Obama understands that. I wish that our Republican leaders were as astute.